I know this might be a bit too soon to ask the question but does anyone have a formula to estimate the taxes?
IE. Original sale price 350,000
Short sale price 175,000
Home improvements 55,000…
What would the 1099 be?
Read more…Can anyone give me a good explanation that I can pass along as to the benefit of the service member signing this waiver? I sure cant get a good one from Wells Fargo
The form is attached.
Thanks
Read more…I have a short sale listing with ocwen. The owner said they have a hearing tomorrow, Thursday and it will be pretty much over and done with and on to foreclosure. I'm pretty sure I have an investor who would offer 60% or so of market value or. I thi
Read more…I have a property whose first is BOA and second is GMAC. This is a co-op short sale. BOA offered $ 8,500 to GMAC, but they are requesting 15,000. The seller is receiving almost 10k from BOA as an incentive and seller was going to give the remaining $
Read more…I have a question at the bottom of an approval letter states: Important Notice Required by Law: Federal law requires us to notify you that (a) Lender is considered a debt collector, (b) this is an attempt to collect a debt and (c) any information obt
Read more…This is the 4th short sale we have tried to get, and the only one who accepted our offer.
Two weeks ago we placed a full price cash offer on a house that has been on the market for over 149 days. AFTER we placed th offer, our agent found out that th
Read more…Members - I need you help quickly!! I have been in contact the past few months with NAR and Treasury Dept. regarding this issue. Please see the text below from my contact at NAR. If anyone is willing to provide "specific" examples per the request bel
Read more…Can anyone tell me with a borrower can still qualify for HARP if they're in active Chapter 13 BK? Thanks.
Read more…To all readers
I want to thank all of you who have taken time to respond to my plea for examples of short sales that have failed because of Fannie Mae values that exceed FMV. As you would expect, I have had hundreds of examples sent to me. I have rev
Read more…Auction sale 3 days away. Is it too late to negotiate a halt to the sale and start a short sale listing? I am in contact with the homeowner. They havent really tried any remedies yet with their lender (American Brokers Conduit) ... were overwhelmed
Read more…Good Morning, I have a deal where ING is the lien holder. They rejected our 1st offer of $80,000 and countered us back to $100,000. The buyer walked and we received a new offer from an LLC for $100,000. ING rejected the offer because the buyer is
Read more…An agent in our office has an approved Wells Fargo short sale, but can't get to the closing table because of a previous unreleased deed of trust from Nationstar. Sellers have documents to prove that Nationstar was paid off when they refinanced with
Read more…Homeward residential, first time I heard this lender. I have an ALL CASH offer on a Short Sale, owner occupied with 1 lien only. Buyer offers full price as is. Listing Agent got offer September, approves October submitted to lender by November.
End
Read more…I have a short sale listing in a sought after neighborhood, I am receiving offers from investors that are offering money to the seller to accept their offer. Is there a way to do this ethically and legally? I would like to get this for my seller, but
Read more…I received a phone call the week before Christmas from DTS telling me that they would be handling Fannie Mae's short sale outreach. They said they had chosen only a few of the DTS agents to handle the deals. I have received a set of leads so I call
Read more…I am assisting an agent in my office with a BOA short sale and I am being told the short sale is in litigation status and they will not give me any information. I have made two attempts to get it out of litigation status and nothing seems to be getti
Read more…Okay, so the bank FINALLY says yes to our LOWER buyer appr on the short sale condo purchase we started back over the summer. We had been approved, all that, we think we are ready, and basically we are, (we are NOT doing FHA).
Read more…Has Fannie Mae raised the limits they are willing to allow for 2nd lien holders from 6%?
(or did I dream that conversation?)
Read more…I get a listing in NJ and upload it to Equator , 2 weeks later I am told short sale is denied due to investor not participating in HAFA nor can he do a co operative short sale due to information on the credit report
( client is in chapter 13 but
Read more…Hello Superstars...I need any help that you can with USAA. I'm helping a Short Sale client who has a 1st with US Bank and today I received a letter from USAA saying they wanted 30% of the loan balance due to release lien and settle the account. After
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